Two of Asia’s largest asset managers have teamed up to launch an equities Ucits fund that treats Asia Pacific and Japan as one region.
Mirae Asset Global Investments (Hong Kong) and Daiwa Asset Management Co are the co-managers of the Mirae Asset Next Asia Pacific Equity Fund, which is a sub-fund of a Mirae Asset Luxembourg Sicav.
Traditionally, Asia Pacific funds fall under the ‘Asia Pacific (ex-Japan)’ category used widely in the funds industry.
The fund will invest in multiple industries that are expected to benefit from long-term trends in the region, the firms say.
Jung Ho Rhee, chief executive officer at Mirae Asset Global Investments, says: “With greater levels of trade liberalisation and economic integration, Asia Pacific including Japan has potential to be viewed as a single region for asset allocation by investors.”
He adds that the region is becoming one of the world’s largest and most populous consumer markets and that growth in the investible universe of companies and improvements in corporate governance means that the region is becoming more accessible for investors looking for diversified investment opportunities.
The fund is managed by Masaki Takebayashi, senior portfolio manager at Daiwa, and Joohee An, senior portfolio manager at Mirae Asset.
Daiwa and Mirae Asset have a partnership going back to 2010, when both companies jointly distributed 14 funds together in Korea and Japan.
The fund will be launched in countries in Asia and Europe.
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